Wall Street faced significant declines as worries about President Donald Trump's tariffs took hold. The S&P 500 was down by 0.6%, and the Dow Jones Industrial Average dropped by 39 points during midday trading.
Initially, the U.S. stock market plummeted by 665 points before rebounding slightly when Mexican President Claudia Sheinbaum announced a one-month postponement of the tariffs post-discussions with Trump.
In global markets, London, Paris, and Frankfurt saw notable decreases, while Asian markets, including South Korea and Japan, suffered sharp losses.
The unease surrounding inflation and potential economic repercussions from the tariffs has spurred uncertainty, leading experts to caution about potential volatility in financial markets.